the-ordinances-of-the-legislative-counci-1890 — Page 643

ORDINANCE No. 5 OF 1864. 607


Bankruptcy and Insolvency.


with like leave of the Court, after notice to such creditors and subject to
such conditions ( if any ) as to obtaining the consent of creditors , or any
proportion of them, as the Court shall think fit to direct, the assignees
may take such reasonable part of any debts due to bankrupt's estate as
may by composition be gotten, or may give time or take security for the

payment of such debts and may submit to arbitration any difference or
dispute between the assignees and any other person , for or on account ,
or by reason of anything relating to the estate and effects of the bankrupt .

91. All persons from whom the assignees shall have recovered any If petition or
adjudication
real or personal estate, either by judgment or decree , are hereby discharged be annulled
& c., persons
in case the adjudication or petition for adjudication , be afterwards annul from whom
the assignees
led or dismissed from all demands which may thereafter be made in re have recover
ed or who
spect of the same by the person against whom such adjudication was made, ave bonâ
and all persons claiming under him ; and all persons who shall without fide paid the
assignees,
&c., dischar
action or suit, bonâ fide deliver up possession of any real or personal ged from
estate to the assignees, or pay any debt claimed by them, are hereby claims
bankrupby
t. the
discharged from all claim of any such person as aforesaid , in respect of
the same or any person claiming under him : Provided the persons so
delivering up any real or personal estate or paying any debt, shall not
have had notice of an action , suit , or other proceeding to dispute or annul
the adjudication or petition for adjudication , and such action , suit , or other
proceeding shall not have been commenced and prosecuted within the
time and in manner allowed by this Ordinance .

92. If any assignee indebted to the estate of which he is such If assignee
indebted to
assignee in respect of money being part of the estate of the bankrupt bankrupt's
estate be
retained or employed by him , become bankrupt and obtain his discharge, comes bank
it shall have the effect only of freeing his person from arrest and impri- rupt
charge dis
hisshall
not release
sonment ; but his future effects ( his tools of trade, necessary house his future
effects in re
hold goods and the necessary wearing apparel of himself, his wife and spect of such
debt.
children excepted ) shall remain liable for so much of his debt to the estate
of which he was assignee, as shall not be paid by dividends under his
bankruptcy, and for interest at the rate of twelve per cent per annum on
the whole debt .

93. Whenever an assignee shall die or be removed, or a new Suits not to
abate by
assignee shall be chosen , no action at Law or suit in Equity shall be death or re
moval of
thereby abated, but the Court in which any action or suit is depending assignees .

may, upon the suggestion of such death , or removal and new choice ,